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Ausgold Ltd.
Summary
| Project: | Katanning | |
|---|---|---|
| Deposit: | Katanning | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/3/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 3-8-2017: Ausgold Ltd. announces a Resource Estimation report for its Katanning deposit at the Katanning project. Katanning Gold Project mineral resource update. Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce the completion | |
| Resources: | (Resource, Total): 20.98Mt @ 1.17g/t Au for 785,800oz Au contained at Katanning | |
| CP/QP: | [Resources]: Rod Brown, Matthew Greentree (SRK Consulting (Australasia) Pty Ltd.;Internal) | |
| ABSTRACT: | Ausgold Limited (ASX: AUC) (“Ausgold” or “the Company”) is pleased to announce the completion of an upgraded Mineral Resource Estimate for the Company’s 100% owned Katanning Gold Project (KGP), 40 kilometres from the township of Katanning in south-west Western Australia. The new Resource of 20.98 Mt at 1.17 g/t gold for 785,800 ounces (Table 1) is a 23% increase (148,800 ounces) on the previous Resource Estimate (ASX Announcement 21 Oct 2015). SRK Consulting (SRK) completed the new resource in accordance with the 2012 JORC Code and assessed the Jinkas, White Dam, Jackson and Fraser deposits, which are located within a 3km radius (Figure 1). The increased resource incorporates recent Reverse Circulation (RC) drilling (26 holes for 3,528m) which targeted high grade mineralisation and strike extensions of the Jinkas, White Dam, Jackson and Fraser mineralisation (ASX Announcement 12 January 2017), together with historical drilling which was validated by recent drilling at Fraser and Jinkas South (ASX Announcement 25 July 2017). Importantly, two new prospects areas in the upgraded resource, Jinkas and Fraser, have near surface mineralisation, which added significantly to the new resource. There was significant strike extension to Jinkas, with the resource remaining open and potential to add significantly to the resource in the south through nearterm drilling. Furthermore, the wide-spaced drilling at Fraser highlights the continuity of mineralisation along the central White Dam-Dingo trend. | |
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